Health Insurance – Different Types And Why
A health insurance policy offers financial help in case of a health challenge. In order to provide complete service and development there are different types of services available depending on your situation.
Health Insurance – What Is Available For You?
· HMO’s or the Health Maintenance Organizations: offer health insurance with very low premiums. The disadvantage for this type of life insurance is that they do not cover immunizations, mammograms and physicals.
· Short Term Health Insurance: is a policy similar to life insurance. These policies can be taken out for specific lengths of times. The short term health insurance policy does not cover such things as pregnancy and childbirth.
· Catastrophic health insurance: This type of life insurance policy is meant for people who have the financial means to manage regular illnesses and hospitalizations. The deductible for this policy is quite large. In some cases there are caps on this type of policy in case of illness.
· Preferred Provider Organization or PPO: This type of life insurance policy is a economic form of health insurance policy. PPO has a complete network of health care providers from hospitals to doctors. When the insured takes treatment from his network of doctors he will be completely covered. Outside of this network, he will get service but at a reduced rate.
· Full Service Health Insurances: The best thing about this type of health insurance is that is covers all types of illnesses and treatments regardless of the hospital or doctor. Depending on your personal situation the policy premiums may be high or low.
Health Insurance – Consult Your Broker
Depending on your personal situation, and how much coverage you need, it is advisable to consult a local life insurance broker to find out what kind of coverage would best work for you when selecting how to handle your health insurance.